Colombia: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Colombia

The Colombian sweet biscuit market contracted modestly to $X in 2021, waning by -3.4% against the previous year. Overall, consumption showed a perceptible setback. The pace of growth was the most pronounced in 2020 when the market value increased by 5.3% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Sweet Biscuit Production in Colombia

In value terms, sweet biscuit production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of 4.8%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Sweet Biscuit Exports

Exports from Colombia

Sweet biscuit exports from Colombia surged to X tons in 2021, with an increase of 26% against the previous year's figure. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 56%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, sweet biscuit exports rose significantly to $X in 2021. Overall, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when exports increased by 54% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Haiti (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of sweet biscuit exports from Colombia, with a combined 40% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Haiti (with a CAGR of +67.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ecuador ($X) and Haiti ($X) constituted the largest markets for sweet biscuit exported from Colombia worldwide, together accounting for 41% of total exports.

Haiti, with a CAGR of +55.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sweet biscuit export price amounted to $X per ton, shrinking by -12.7% against the previous year. Overall, the export price showed a pronounced decline. The growth pace was the most rapid in 2013 an increase of 11%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.6%), while the prices for the other major destinations experienced a decline.

Sweet Biscuit Imports

Imports into Colombia

For the fifth consecutive year, Colombia recorded growth in overseas purchases of sweet biscuits, which increased by 4.7% to X tons in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +76.2% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit imports rose remarkably to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Peru (X tons) constituted the largest sweet biscuit supplier to Colombia, accounting for a 70% share of total imports. Moreover, sweet biscuit imports from Peru exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru amounted to +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.3% per year) and Spain (+25.0% per year).

In value terms, Peru ($X) constituted the largest supplier of sweet biscuits to Colombia, comprising 56% of total imports. The second position in the ranking was held by Turkey ($X), with a 7.6% share of total imports. It was followed by Spain, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru stood at +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.8% per year) and Spain (+22.1% per year).

Import Prices by Country

The average sweet biscuit import price stood at $X per ton in 2021, increasing by 3.1% against the previous year. Over the period under review, the import price, however, saw a noticeable decrease. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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